Back to all announcements

Wachovia Market Risk Management System Augmented by Asset Control Interfaces

Complex data feeds integrated rapidly due to flexible solution

NEW YORK, May 22, 2006 – Asset Control, the world’s leading provider of Centralized Data Management (CDM) solutions to the financial industry, today announced that Wachovia Corporation, the fourth largest banking holding company in the US, has successfully expanded its risk management solution by extending their AC Plus product suite.

“Asset Control has a range of interfaces to complex data feeds which reduces our development cost and improves time to market” said Barry Fenwick, Divisional Information Officer of Wachovia Corporate Investment Bank. “This allows us to improve the quality of market data utilized within risk management and can be leveraged throughout the organization.”

The solution, configured from the AC Plus modular framework, gathers and manages snapshot, end-of-day and time-series pricing information for interest rates, credit spreads, equities, FX and commodities. Additionally, the solution consolidates and validates data from several external sources to provide consistency and reliability.

Wachovia is also expanding on Asset Control’s built-in range of four-dimensional graphing capabilities, to allow them to analyze and survey data anomalies and trends over time in a graphical, multi-dimensional format.

“We are delighted to continue to work with Wachovia to tailor AC Plus to their exact requirements,” said Ger Rosenkamp, CEO of Asset Control. “The modular architecture of AC Plus means its capabilities can be extended easily with minimal downtime or cost.”